Fake currency operators’ properties to be attached

Last Updated: Wednesday, December 7, 2011 - 11:30

Hyderabad: Andhra Pradesh police, with
the help of Enforcement Directorate (ED), is contemplating to
attach properties of the members of the gangs involved in the
circulation and smuggling of Fake Indian Currency Notes (FICN)
in the state.

"Circulation of Fake Indian Currency Notes (FICN) in
the state has become a challenge for the state police, but the
situation is not so alarming. We wanted to take more deterrent
measures to curb it," Inspector General of Police (CID)
Jitender told a agency.

"However, the situation was definitely a challenge
for us. Since the state police is vigilant and careful, a
number of gangs, involved in the circulation of FICN were
detected in a year," the IGP said adding that cases of fake
currency of various denominations, at the face value of Rs one
crore, were detected and reported annually.

"We have written to the ED, which sought information
about the FICN cases reported in the state. We have also asked
the central agency to register cases under the Prevention of
Money Laundering Act (PMLA) against those, who were allegedly
involved in the circulation and smuggling of fake currency, as
it is one of the scheduled offences, so that whatever
properties they have purchased with this money, can be
attached," the IGP said.

Besides the ED, the state police is also coordinating
with the National Investigation Agency (NIA), Intelligence
Bureau (IB) and Reserve Bank of India (RBI) to curb the
circulation of fake currency in the state, he said.

Most of the gang members, involved in the smuggling of
fake currency, belonged to West Bengal, Jitender said, adding
that the state police have already written to the Director
General of Police and Additional DGP (CID) in that state to
take concrete measures against the menace, he said. The IGP said that the state police, with the help of
RBI, has seized FICN at a face value of over Rs six crore and
arrested 870 persons since 2007.

This year, counterfeit currency notes at the face
value of over Rs 42 lakh have been seized and 94 cases were
booked while 84 persons were arrested in this connection, he
said adding most of them hailed from West Bengal. Of the 94
cases, eight cases are involving FICN at the face value of
over Rs one lakh each, Jitender said.

"A full-fledged cell, in coordination with the RBI,
has been constituted to check the circulation of fake currency
notes, besides changing the strategy to detect the source of
manufacturers and gangs involved in the distribution or
circulation of FICN," the IGP said.

The IGP said it was observed that fake currency notes
of high quality standard were being smuggled from our
neighbouring country through various means of transport.

It has come to notice that gang members involved in
the FICN have been trying to establish contacts with locals
for circulation of fake currency, he said adding that they
exchange fake notes at petrol bunks and with petty vendors in
the market.

Recently, Kulsumpura police here busted a three-member
gang which was circulating FICN at Puranapul fruit and
vegetable market. Three persons-- Md Talim and Md Arsi, both
from Bihar, and Md Haji Kul from Malda of West Bengal were
arrested.

The police officer said that people need to be more
cautious about the high quality fake notes of Rs 500
denomination, which are more in circulation as compared to the
Rs 1,000 and Rs 100 denominations. He has also urged people to contact the District
Superintendent of Police (DSP) on 9493896141, in case they
come across a fake currency note.

He admitted that most of the complaints come from the
customers using ATMs of different banks.

"However, some organisations or individuals do not
report such cases, like the ICICI bank, which did not lodge
any complaint in the past four years, but has now come
forward. Based upon the complaint by the bank, police have
registered two cases at Hyderabad and Vijayawada," he said.

"We have been informing the banks concerned to take
all the necessary precautions during the interaction meetings
with the bankers. If they do not take precautions, they will
have to face the music," the IGP warned.

PTI



First Published: Wednesday, December 7, 2011 - 11:29

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